Purpose

To provide hassle free credit for working capital (fund based and non-fund based) as also long term requirements, taking into account nature of business, cyclical trends, cash flow projections, peak time requirements and any eventuality of unforeseen spurt in the business.

Eligibility

All Enterprises, i.e. Micro, Small & Medium Enterprises, as defined under MSMED Act, 2006, and other entities with annual sales turnover up to Rs. 150/- crores exclusively banking with our bank/new borrowers desirous of having sole banking arrangement with our bank.

Composite Limit

4.5 times of borrower tangible net worth as per last audited Balance Sheet, or, Rs. 5.00 Crores, whichever is lower.

Margin

25%

As per credit rating of the borrower.

Security

Exclusive charge on the assets of the enterprise.

Personal Guarantees of all promoter Directors / Partners.

Charge on the unencumbered personal properties of the partners, promoter Directors, wherever applicable.

Third party guarantee in case of credit line above Rs.100.00 lacs to Micro & Small Enterprises as per Regulatory definition.

Any other collateral for the credit line above Rs. 25.00 lacs in case of other Enterprises, i.e. Medium Enterprises and Enterprises based on the turnover criteria to maintain asset coverage ratio above 1.25.